V300AEQ ETF Units Elliott Wave technical forecast [Video]
|ASX: VAS Elliott Wave technical analysis
TradingLounge (one-day chart)
Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We see that VAS.ASX may continue to rise higher than wave ((iii)) - navy of wave 3 - grey.
One-day chart (Semilog Scale) analysis
- Function: Major trend (Minor degree, grey).
- Mode: Motive.
- Structure: Impulse.
- Position: Wave ((iii)) - navy.
Details
Wave ((ii)) - navy ended earlier than expected at the low of 95.30. Wave ((iii)) - navy is opening up to push higher. Aim for 110-120 or beyond; While the price must remain above the 95.30 level to sustain this view.
- Invalidation point: 95.30
TradingLounge (four-hour chart)
Four-hour chart analysis
-
Function: Major trend (Minute degree, navy).
-
Mode: Motive.
-
Structure: Impulse.
-
Position: Wave (iii) - orange of Wave ((iii)) - navy.
Details
Wave ((iii)) - navy is opening up to push higher, it is subdividing into wave (iii) - orange, which will essentially continue to push higher; Then wave (iv) - orange will pull back down a bit, and finally wave (v) - orange will return to push higher. The Long Trade position updated at "Stock Check" has generated good profits.
- Invalidation point: 95.30
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: V300AEQ ETF UNITS – VAS aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.
V300AEQ ETF Units Elliott Wave technical forecast [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.